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1) Ivanhoe Electric has announced that it has signed a Definitive Agreement with Saudi Arabian Mining Company Ma'aden, finalizing the terms of the transactions announced on January 11, 2023. Mr. Friedland commented: "We are excited to finalize our transaction terms with Ma'aden and begin the important work of minerals exploration in the Kingdom of Saudi Arabia. Our joint venture will embark on the largest exploration program ever conducted using our highly powerful and disruptive Typhoon™ geophysical surveying system. With our Typhoon™ technology, our Computational Geosciences' machine-based learning software, and the combined talents of our highly experienced team of women and men, we believe that we have all the tools necessary to conduct a transformational exploration program for electric and precious metals in the Kingdom of Saudi Arabia. The potential for future discoveries is extraordinary." Ma'aden and Ivanhoe will form a 50/50 exploration joint venture in Saudi Arabia to explore for copper, nickel, gold, silver and other electric metals. Ivanhoe Electric will be the operator during the exploration stage, while Ma'aden will be the operator for the development of any economically viable deposits that may be found.
2) Northern Dynasty Minerals Ltd., the company behind the rich Pebble Mine in Alaska, raised doubts that it will be able to continue if the company is unable to raise the necessary capital. The project has been through 3 administrations in the past 15 years, when finally, President Joe Biden took steps to permanently protect Alaska's Bristol Bay from the project. Northern Dynasty has said that it is still exploring and evaluating the Pebble project and has not yet determined whether the project contains mineral reserves that would make it economically viable. To continue its operations, Northern Dynasty is dependent to obtain financing to complete the exploration and development of the project, in order to finish exploration and developing these mineral reserves.